Beijing: China on Wednesday hailed Prime Minister Narendra Modi’s speech at the World Economic Forum in Davos against protectionism.

It said that the two countries share common interests in promoting globalisation and steering the world economy towards betterment.

“We have noticed Prime Minister Modi remarks against protectionism and his remarks showed that globalisation is a trend of the times. It serves the interest of all countries including developing countries,” Foreign Ministry spokesperson Hua Chunying said.

“(In) fighting against protectionism and promoting globalisation, China and Indian share a lot of common interests,” he added. Hua recalled Chinese President Xi Jinping’s last year speech at Davos in which he had spoken against protectionism.

“China would like to enhance the coordination and coordination with all countries including India to steer the economic globalisation towards benefitting world economic growth and the well-being of all countries. Our position is clear. India is a big neighbour of China. As two largest developing countries and as two closed neighbours, we, of course, hope that we maintain sound and steady development of our bilateral relations. It serves the interest of two sides,” he said, as per IANS.

“We look forward to working with India to enhance our communication, mutual trust and properly handle our differences and ensure the sound and steady development of our relations. I believe this is the aspiration of two people in our countries.” Hua further said.

Addressing the World Economic Forum on Tuesday, PM Modi had talked about ‘serious’ challenges and ‘grave concerns’ facing the world.

He had cautioned against the rising chorus of protectionism in a number of countries around the world and had termed such a tendency to be as much a threat as terrorism or climate change.

“Many societies and countries are becoming self-centred. It seems that globalisation, as opposed to its definition, is shrinking. Such misplaced preferences can’t be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading,” he had said.

PM Modi had further said that climate change and terrorism are grave concerns before the world and had asserted that terrorism was dangerous but what was equally dangerous was the ‘artificial distinction’ made between ‘good terrorist’ and ‘bad terrorist’.

“Climate change is a huge threat right now, Snow in the Arctic is melting, many islands are sinking or are about to ink. Mahatma Gandhi’s principle of trusteeship to use things according to one’s need is important. He was against the use of anything for one’s greed. We’re today exploiting nature for our greed. We need to ask ourselves if this is our progress or regression,” he had maintained.

“Terrorism is dangerous. Worse is when people say there is a difference between ‘good’ and ‘bad’ terror. It is painful to see some youngsters getting radicalised. Many societies and countries are becoming self-centred. It seems that globalisation, as opposed to its definition, is shrinking. Such misplaced preferences can’t be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading,” PM Modi had added.

Referring to WEF’s theme of – ‘Creating a shared future in a fractured world’ – he had said the Indian philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family) had become more relevant in today’s time to address fissures and distances in the world.

At the same time, he had noted that the last time when an Indian PM visited Davos in 1997, India’s GDP was a little more than USD 400 billion, but now it had increased more than six times.